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Moody's Parallel Universe
On North Korea's Nukes

Moody's Investors Service recently raised South Korea's debt-rating outlook to stable from negative, citing a reduced risk of conflict over North Korea's nuclear programs.

That's right, in the strange parallel universe inhabited by the debt rating agency Pyongyang's efforts to build more bombs and the six-party talks on the issue being held in Beijing this week amount to a reduction in tension. That's despite the fact that talks --...